FIYTA Holdings Ltd. 2015 Semi-Annual Report
FIYTA HOLDINGS LTD.
2015 Semi-Annual Report
August, 2015
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FIYTA Holdings Ltd. 2015 Semi-Annual Report
Section 1 Important Notice, Table of Contents and Definitions
The Board of Directors, the Supervisory Committee, directors, supervisors and senior executives hereby
individually and collectively accept responsibility for the correctness, accuracy and completeness of the
contents of this report and confirm that there are neither material omissions nor errors which would
render any statement misleading.
Except the following director, all the other directors personally attended the board meeting for reviewing
the Annual Report:
Name of the director failed Titles of the directors Cause of failure in attending Names of the attorneys
in attending the board failed in attending the board the board meeting
meeting personally meeting personally personally
Cao Zhen Director Business trip Wang Mingchuan
The Company is not going to conduct interim dividend distribution, bonus share distribution or
conversion of reserve into share capital.
Mr. Xu Dongsheng, the Company leader, Mr. Hu Xinglong, chief financial officer, and Mr. Hu Xinglong,
the manager of the accounting department (treasurer) hereby confirm the authenticity and completeness
of the financial report enclosed in this Annual Report.
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FIYTA Holdings Ltd. 2015 Semi-Annual Report
Table of Contents
2014 Semi-Annual Report
Section 1 Important Notice, Table of Contents and Definitions
Section 2 Company Profile
Section 3 Financial and Business Highlights
Section 4 Report of the Board of Directors
Section 5 Significant Events
Section 6 Change of Shares and Particulars about the Shareholders
Section 7 About Preferred Shares
Chapter 8 Directors, Supervisors and Senior Executives
Section 9 Financial Report
Section 10 List of Documents Available for Inspection
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FIYTA Holdings Ltd. 2015 Semi-Annual Report
Definition
Refers
Terms to be defined Definition
to
Refers
This Company, the Company or Fiyta FIYTA Holdings Ltd.
to
Refers
AVIC International Holdings AVIC International Holdings Limited
to
Refers
HARMONY Shenzhen Harmony World Watches Center Co., Ltd.
to
Refers
Rainbow Supermarket Rainbow Supermarket Co., Ltd.
to
Refers
CATIC Real Estate CATIC Real Estate Co., Ltd.
to
Refers
CATIC Property CATIC Property Management Co., Ltd.
to
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FIYTA Holdings Ltd. 2015 Semi-Annual Report
Section 2 Company Profile
I. Company Profile
Abbreviation of the stock FIYTA A, FIYTA B Stock Code 000026 and 200026
Stock Exchange Listed with Shenzhen Stock Exchange
Company Name in Chinese 飞亚达(集团)股份有限公司
Abbreviation of company
飞亚达公司
name in Chinese (if any)
Company Name in English
(if any) FIYTA HOLDINGS LTD.
Abbreviation of Company
FIYTA
Name in English (if any)
Legal Representative of the
Xu Dongsheng
Company
II. Liaison Person and Way of Communication
Secretary of the Board Securities Affairs Representative
Names Lu Wanjun Zhang Yong
th
th 20 Floor, FIYTA Technology
20 Floor, FIYTA Technology
Liaison Address Building, Gaoxin S. Road One, Building, Gaoxin S. Road One,
Nanshan District, Shenzhen
Nanshan District, Shenzhen
Tel. 0755-86013198 0755-86013669
Fax 0755-83348369 0755-83348369
E-mail investor@fiyta.com.cn investor@fiyta.com.cn
III. Other Information
1. Way of Communication with the Company
There is no change in the Companys registered address, office address, postal code, website, e-mail
address in the reporting period. For the detail, please refer to 2013 Annual Report
2. Information Disclosure and Place of Regular Reports Prepared for Inquiry
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FIYTA Holdings Ltd. 2015 Semi-Annual Report
There is no change in the name of the newspapers designated for disclosing the information, internet web site designated
by China Securities Regulatory Commission for publishing the companys semi-annual report: and place of the companys
semi-annual report prepared for inquiry. For the detail, please refer to 2014 Annual Report
3. Changes of the Registration Data
Registration
Registration Registration number of the Tax registration Organization
date place business number code
licence
Shenzhen
Municipal l
Initial registration March 30, 1990 Administration 19218978-3 19218978-3
for Industry and
Commerce
Market
Supervision
Registration at the end of 440301103196 440301192189
April 20, 2015 Administration 19218978-3
the reporting period 089
of Shenzhen
Municipality
Date of inquiry at the
designated website for
Inapplicable
disclosing provisional
announcements (if any)
Inquiry index at the
designated website for
Inapplicable
disclosing provisional
announcements (if any)
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FIYTA Holdings Ltd. 2015 Semi-Annual Report
Section 3 Financial Highlights
I. Summary of Accounting/Financial Data
May the Company make retroactive adjustment or restatement of the accounting data of the previous years due to change
of the accounting policy and correction of accounting errors?
No
□ Yes √ No
Same period of the Year-on-year
Reporting period
previous year increase/decrease
Turnover in CNY 1,683,793,247.59 1,642,614,790.97 2.51%
Net profit attributable to the
73,109,419.73 88,283,873.10 -17.19%
Companys shareholders, in CNY
Net profit attributable to the
Companys shareholders less the 71,958,085.27 86,173,160.01 -16.50%
non-recurring items, in CNY
Net cash flows arising from operating
172,253,778.56 137,998,679.39 24.82%
activities, in CNY
Basic earning per share (CNY/share) 0.186 0.225 -17.33%
Diluted earning per share
0.186 0.225 -17.33%
(CNY/share)
Return on equity, weighted average
4.36% 5.58% -1.22%
(%)
Increase/decrease at
the end of the reporting
End of reporting period End of previous year
period over the end of
the previous year
Total assets, in CNY 3,820,850,106.95 3,657,781,647.20 4.46%
Net assets attributable to the
Companys shareholders (owners
1,674,397,739.63 1,633,401,930.64 2.51%
equity attributable to the Companys
shareholders, in CNY)
II. Difference in the Accounting Data based respectively on the Chinese Accounting Standards
(CAS) and International Accounting Standards (IAS)
1. Differences in the net profit disclosed in the financial report & the net assets attributable to the Companys shareholders
respectively according to the IAS and the CAS.
Inapplicable
2. Didfferences in the net profit disclosed in the financial report & the net assets attributable to the Companys
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FIYTA Holdings Ltd. 2015 Semi-Annual Report
shareholders according to both the IAS and the CAS
Inapplicable
III. Non-recurring gain/loss items and the amount involved
In CNY
Items Amount Note:
It refers to the gain/loss from
Loss from disposal of non-current assets, including the
34,200.78 disposal of the office fixed
part written-off with the provision for impairment of assets
assets in the current period
Government subsidy recognized in current gains and
For the detail, refer to Note
losses (excluding those closely related to the Companys 7.69 government subsidy
1,603,451.99
business and granted under the states policies according counted to the current profit
and loss.
to certain quota of amount or volume)
Income and expenses from the business other than the Other various non-operating
-133,218.09
above items revenue and expenditure
Less: Amount affected by the income tax 353,100.22
Total 1,151,334.46 --
For the Companys non-recurring gain/loss items as defined in the Explanatory Announcement No. 1 on Information
Disclosure for Companies Offering their Securities to the Public – Non-recurring Gains and Losses and its non-recurring
gain/loss items as illustrated in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering
their Securities to the Public – Non-recurring Gains and Losses which have been defined as recurring gains and losses, it
is necessary to explain the reason.
Inapplicable
Section 4 Report of the Board of Directors
I. Overview
During the reporting period, Chinas overall economical situation and watch retail industry both were confronted with
enormous pressure. Under such a background, the Company continued to insist on the principle of leading various work
with the brand strategy, and carried forward integration of the key value chain through the business model of “products +
channels” and improved the quality service ability. During the reporting period, the Company took the “values, innovation,
adjustment, and profit making” as the theme of work, carried forward various management innovations in a down-to-earth
way, realized operating revenue amounting to CNY 1,683,793,247.59 with year-on-year growth of 2.51%; realize net profit
amounting to CNY 73,109,419.73, a year-on-year drop of 17.19%.
Despite the sluggish market of the domestic famous brand watches during the reporting period, the Company still kept
adjusting the brand and channel structure in its HARMONY world watch retail business, focused on the work dimensions
of “upgrading the individual shops, improving the gross profit, optimizing the inventories and expanding the repairing
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FIYTA Holdings Ltd. 2015 Semi-Annual Report
service business”; meanwhile, enthusiastically carried forward innovation of business model and development of new
business. During the reporting period, HARMONY successfully ensured business development and stabilized the market
share through various measures, realized operating revenue amounting to CNY 1,130,882,784.123 with year-on-year
drop of 2.89%.
During the reporting period, despite the domestic retail market generally being confronted with increasing pressure, the
Company still kept upgrading its product R & D and design ability and customer communication ability for its FIYTA watch
business, focused on the work dimensions of realizing financial objectives, capacity construction and upgrading, channel
and individual shop improvement, brand promotion and business platform development. Meanwhile, the Company kept
carrying forward development of e-commerce and BRAND GALLERY. During the reporting period, the Company kept
improving FIYTA watch channel quality and customer satisfaction, kept improving the comprehensive competitive power,
realized operating revenue amounting to CNY 494,755,397.54 with year-on-year growth of 17.57%.
During the reporting period, the Company kept steady income from its properties. The Company smoothly carried forward
the work of private offering of A-shares and cooperation of Beibiao Watch Industry.
II. Analysis on Principal Business
Year-on-year change of the principal financial data
In CNY
Same period of the Year-on-year Causes of
Reporting period
previous year increase/decrease Movements
Operating revenue 1,683,793,247.59 1,642,614,790.97 2.51% Inapplicable
Operating cost 1,037,981,721.35 1,038,060,709.77 -0.01% Inapplicable
Sales expenses 386,297,227.92 349,761,320.39 10.45% Inapplicable
Administrative
100,131,176.65 84,852,192.39 18.01% Inapplicable
expenses
Financial expenses 50,889,786.79 54,196,678.49 -6.10% Inapplicable
The preferential
enterprise income
tax rate enjoyed by
the manufacture
company, one of the
Companys
subsidiaries, as a
hi-tech enterprise
enjoying key support
from the central
government was due
on December 31,
Income tax expenses 22,261,660.23 16,573,527.31 34.32%
2014 and the
company is in
process of
application for the